Regarding the issue of accepting spot ETFs:
SEC Commissioner affirms it's time to stop denying crypto spot ETFsEven the SEC itself cannot explain why they keep rejecting all spot ETF applications. It suggests that the containment of the release of such products is artificial and is clearly being prepared for a certain market trend. It makes little sense to launch such anticipated bitcoin products in 2022, as the market will not properly respond to these products.
My opinion remains unchanged, spot ETFs will not launch until the next bull cycle, sometime in 2024-2025.
they can explain.. but they dont want to reveal the secret.. so i shall
they want their wall street buddy institutions to be the 'first mover' and first ETF offering. thus they have initial monopoly and can set the trends and the direction all other ETF services after them have to follow. they dont want small unknown business becoming the defacto #1.
..
to explain.
to offer it to a small business means small licence fee income. and small commissions on audit inspections.. however if a large institution started they can get large licence fees and charge more for audits and inspections. also it sets precedent's for the calibre or level all next issuers should follow.
having a large institution start the ball rolling brings instant utility and offering to many many customers meaning the markets do respond.
EG take the australian markets which some small unknown company offers something that resembles an ETF.. yet hardly anyone uses the australian markets so no one cares..
without you googling it. i bet you couldnt from memory tell me much about the australian example i hint at.. because no one cares to research/invest in it..
however a large institution on the US main big market. is a whole different story